In our last blog, we discussed the recent trend for paying with cryptocurrencies, currently growing at around 30% per month. These payment instruments offer lower costs and much faster settlement compared with traditional cards and digital wallets.
However, those very advantages – speed and immediacy – are proving a real headache for regulators looking to crack down on money laundering and criminal activity by identifying the parties behind transactions. Warren Russell, CEO & Founder of W2, considers how to solve this compliance challenge.
Instant payments: faster – but safer?